EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the group of fibo-levels at 1.1230 – 1.1210 again. As a result, later the price may test the area at 1.1140 – 1.1130. If the pair breaks these levels, the market may continue falling towards the area at 1.1020 – 1.0980.
At the H1 chart, the pair rebounded from the correctional retracement of 50% several times. Consequently, the market may start resume falling to break the local low.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair failed to fix above the group of local fibo-levels, which means that it may start a new descending correction. The closest target is the area at 0.8610. If later the price rebounds from this area, the pair may start a new correction.
As we can see at the H1 chart, the downside targets are confirmed by intraday fibo-levels. yesterday, the pair rebounded from its upside targets. Consequently, on Thursday the price may break the previous low and reach the closest bearish targets.
RoboForex Analytical Department